Melco Resorts & Entertainment Limited $MLCO Shares Bought by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of Melco Resorts & Entertainment Limited (NASDAQ:MLCO - Free Report) by 18,441,414.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,290,906 shares of the company's stock after buying an additional 1,290,899 shares during the quarter. National Bank of Canada FI owned approximately 0.30% of Melco Resorts & Entertainment worth $6,803,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of MLCO. JPMorgan Chase & Co. grew its holdings in Melco Resorts & Entertainment by 1,240.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,342,132 shares of the company's stock worth $7,771,000 after purchasing an additional 1,241,986 shares during the last quarter. Geode Capital Management LLC grew its holdings in Melco Resorts & Entertainment by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 364,090 shares of the company's stock worth $2,108,000 after purchasing an additional 27,411 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Melco Resorts & Entertainment by 190.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 42,930 shares of the company's stock worth $249,000 after purchasing an additional 28,142 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Melco Resorts & Entertainment by 1,225.3% in the fourth quarter. Russell Investments Group Ltd. now owns 43,100 shares of the company's stock worth $250,000 after purchasing an additional 39,848 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in Melco Resorts & Entertainment by 216.2% in the fourth quarter. Invesco Ltd. now owns 31,745 shares of the company's stock worth $184,000 after purchasing an additional 21,707 shares during the last quarter. 39.62% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Susquehanna lifted their price target on shares of Melco Resorts & Entertainment from $8.00 to $10.00 and gave the stock a "positive" rating in a report on Wednesday, July 30th. Bank of America lifted their price target on shares of Melco Resorts & Entertainment from $5.70 to $6.60 and gave the stock a "neutral" rating in a report on Tuesday, May 20th. UBS Group downgraded shares of Melco Resorts & Entertainment from a "buy" rating to a "sell" rating and set a $4.60 price objective for the company. in a research note on Wednesday, April 30th. JPMorgan Chase & Co. upgraded shares of Melco Resorts & Entertainment from a "neutral" rating to an "overweight" rating and lifted their price objective for the stock from $7.20 to $9.50 in a research note on Tuesday, July 1st. Finally, Wall Street Zen upgraded shares of Melco Resorts & Entertainment from a "hold" rating to a "buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $8.15.

Melco Resorts & Entertainment Trading Up 0.5%

Shares of NASDAQ:MLCO traded up $0.05 on Monday, hitting $8.62. 705,635 shares of the company were exchanged, compared to its average volume of 3,879,741. Melco Resorts & Entertainment Limited has a 1-year low of $4.55 and a 1-year high of $9.16. The stock's 50 day moving average price is $8.04 and its 200 day moving average price is $6.44. The firm has a market capitalization of $3.62 billion, a P/E ratio of 66.27 and a beta of 0.83.

Melco Resorts & Entertainment (NASDAQ:MLCO - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.14. The company had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.20 billion. Melco Resorts & Entertainment had a net margin of 1.15% and a negative return on equity of 18.47%. The firm's quarterly revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.05 earnings per share. On average, equities analysts predict that Melco Resorts & Entertainment Limited will post 0.16 EPS for the current fiscal year.

Melco Resorts & Entertainment Profile

Melco Resorts & Entertainment Limited, through its subsidiaries, develops, owns, and operates casino gaming and entertainment casino resort facilities in Asia. It owns and operates City of Dreams, an integrated casino resort that has 500 gaming tables and 800 gaming machines; approximately 1,400 hotel rooms and suites; a wet stage performance theater with approximately 2,000 seats; approximately 30 restaurants and bars, and 150 retail outlets; and recreation and leisure facilities, including health and fitness clubs, swimming pools, spa and salons, and banquet and meeting facilities.